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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: HG who wrote (13711)	5/1/1999 3:29:00 AM
From: BoNg-N-BoNg	Read Replies (1) \| Respond to of 43080

>>>Thanks - and yes, I am okey with being patient. But in the NTBK breakout scenario I described earlier, what would be a good point be and when should I have : 1) Bought if I was a buyer ? 2) Sold if I was a seller ? <<<< there's many scenarios but 1st of all, u have to seperate day trading and position/short term hold.. if u r daytrading NTBK, u indeed have to worry the volatility during the day but if u r in position/short term trading, u don't have to worry, be patienct andworry the next few days that follow.. If u r not sure when to buy or when to sell (assuming u r short) try one of this strategy: wait and instead buy/sell (cover short) them near the closing the bell..esp. if NTBK is currently above the breakout (resistance).. If u can't wait then, I like Scott's gap strategy instead... just me.. eL.. p.s. still holding SEBL bought at 39 5/8 w/ a loss for short term play. While I was away for few hours in the afternoon, it see saw between 40 5/8 and 37 before rebounding to 38 1/2.. that is a wild swing no stop loss this time.. if it can't pass the 41.50 + - a few tick on the next run up, I'll sell...

To: HG who wrote (13711)	5/1/1999 10:24:00 AM
From: TimbaBear	Respond to of 43080

I try to determine what level of profitability I can accept and when a stock moves above that, I start setting stops so that if it retraces, I don't lose all the profit....that way I don't have to be accurate on how high it will climb....I've gotten stopped out on some that were just short term retracements, but I don't look back....if I made money, it was a good trade....Trick is in estimating the proper price difference between current price and the stop so that minor fluctuations don't put me out of the stock and yet I'm not giving up too much of the gain....that difference varies issue to issue and the price chart gives me a clue as to normal volatility....I usually don't allow a stop to sit overnight because of gapping issues.